The community rating system : A tool for improving local and state floodplain management programs

ABSTRACT

The Community Rating System (CRS) provides a reward for property owners in those communities which participate in the National Flood Insurance Program (NFIP) and which undertake activities that exceed the minimum requirements of the NFIP. In such communities, property owners receive a discount of at least 5 percent, and up to 25 percent at this time, on their insurance policies exclusive of policy constants. Property owners are informed that their premium costs are lower because of their community's floodplain management program. Local and state floodplain managers can use this fact to improve their programs in a number of ways. The objective of the CRS is to reward those communities that are doing more than meeting the minimum NFIP requirements to help their citizens prevent of reduce flood losses. The CRS also provides and incentive for communities to initiate new flood protection activities